Cetera Advisors LLC increased its stake in Simon Property Group Inc (NYSE:SPG) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,723 shares of the real estate investment trust’s stock after acquiring an additional 158 shares during the quarter. Cetera Advisors LLC’s holdings in Simon Property Group were worth $1,413,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SPG. Oregon Public Employees Retirement Fund increased its stake in shares of Simon Property Group by 33,036.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,272,633 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 11,238,614 shares in the last quarter. Norges Bank bought a new stake in shares of Simon Property Group in the 4th quarter valued at $490,827,000. FMR LLC increased its stake in shares of Simon Property Group by 19.8% in the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock valued at $1,352,241,000 after acquiring an additional 1,331,005 shares in the last quarter. Swedbank bought a new stake in shares of Simon Property Group in the 4th quarter valued at $159,783,000. Finally, BlackRock Inc. increased its stake in shares of Simon Property Group by 2.5% in the 4th quarter. BlackRock Inc. now owns 31,228,680 shares of the real estate investment trust’s stock valued at $5,246,108,000 after acquiring an additional 763,535 shares in the last quarter. Institutional investors own 96.49% of the company’s stock.
NYSE SPG opened at $176.25 on Thursday. Simon Property Group Inc has a 12-month low of $152.50 and a 12-month high of $191.49. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $54.07 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 3.18 and a beta of 0.54.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, May 16th. Simon Property Group’s dividend payout ratio is 67.60%.
Simon Property Group declared that its board has initiated a share buyback program on Tuesday, February 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently weighed in on SPG shares. BMO Capital Markets reiterated a “buy” rating and issued a $191.00 price objective on shares of Simon Property Group in a research note on Friday, February 1st. Mizuho lowered shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price objective for the company. in a research note on Friday, February 15th. Wells Fargo & Co lowered shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research note on Friday, February 8th. Finally, Barclays reiterated a “buy” rating and issued a $202.00 price objective on shares of Simon Property Group in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $192.14.
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Simon Property Group Company Profile
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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